TSX, U.S. markets gain ground Thursday following U.S. inflation report
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The fading name on the building in Toronto that used to house the Toronto Stock Exchange is pictured on August 18, 2011. Photo by Aaron Vincent Elkaim /THE CANADIAN PRESSArticle contentTORONTO — Stock markets in Canada and the U.S. rose on Thursday following the release of key U.S. economic data.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentInvestors sifted through an encouraging report on inflation that could help the U.S. Federal Reserve keep cutting interest rates next year. Markets love lower rates because they can boost the economy and prices for investments, even if they may also worsen inflation.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe U.S. Labor Department reported Thursday that its consumer price index rose 2.7 per cent in November from a year earlier. Yet, year-over-year inflation remains well above the Fed’s two per cent target.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“We’ve had a couple of down days in a row, starting back to last Friday, especially in the tech sector where we were really seeing some weakness. But that inflation report in the U.S. this morning really turned it around,” said John Zechner, chairman and lead equity manager at J. Zechner Associates.Article contentSector-wise, tech stocks did much of the heavy lifting on Bay and Wall streets.Article contentThe S&P/TSX composite index was up 190.83 points at 31,440.85.Article contentIn New York, the Dow Jones industrial average was up 65.88 points at 47,951.85. The S&P 500 index was up 53.33 points at 6,774.76, while the Nasdaq composite was up 313.04 points at 23,006.36.Article content“There had been some negative momentum on this tech story. People are really worried that this whole AI story and the data center build-out has really gotten ahead of itself,” Zechner said.Article contentShopify Inc. added the most points to Canada’s benchmark index, gaining 3.08 per cent on the day.Article contentArticle contentHelping to drive the U.S. stock market was Micron Technology, the seller of memory and storage for computers, which rallied 10 per cent after reporting better profit and revenue for the latest quarter than analysts expected. Micron also gave forecasts for upcoming profit and revenue that blew past analysts’ expectations.Article content“It’s the memory market, and memory is core to the data center build out and all of that,” Zechner said.Article content“It reaffirmed a bit of the AI positive story. The market has been really sloppy on a lot of those things, and that took away the worries for today anyway.”Article contentSeparately, U.S.
President Donald Trump also signed an executive order Thursday that could reclassify marijuana as a less dangerous drug and open new avenues for medical research. Trump has not previously committed to another, bigger step: decriminalizing marijuana.Article contentShares of Tilray Brands Inc. fell 4.88 per cent, while Canopy Growth Corp. shares were down 12.45 per cent.
Aurora Cannabis Inc. shares were down 3.5 per cent, and Organigram Global Inc. was down 3.10 per cent.Article contentThe Canadian dollar traded for 72.60 cents US compared with 72.56 cents US on Wednesday.Article contentThe February crude oil contract was up 19 cents US at US$56.00 per barrel. The February gold contract was down US$9.40 at US$4,364.50 an ounce.Article contentThis report by The Canadian Press was first published Dec. 18, 2025.Article content— With files from The Associated Press.Article contentCompanies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX: SHOP, TSX:TLRY, TSX:WEED, TSX:ACB, TSX:OGI)Article contentTrending Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Mortgage rates move — but in the wrong direction Mortgage Rates Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market News Welcome to the K-shaped economy: Canadians look back on a 'brutal,' 'great' year in Trump's trade war Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Mortgage rates move — but in the wrong direction Mortgage Rates Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market News Welcome to the K-shaped economy: Canadians look back on a 'brutal,' 'great' year in Trump's trade war Economy